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Additional Arkoma Basin Acquisition Completed in 1st Quarter of 2013

Posted by Mary-Margaret

Foundation Energy entered the Arkoma Basin through a number of acquisitions beginning in 2011 and now operates 217 wells and manages interests in over 860 more.  The assets are managed from a field office in Fort Smith, Arkansas, the center of activity for the basin.

In January 2013,  Foundation Energy Fund IV added to this position by completing the acquisition of a significant operated reserve package from a privately-held company.  The acquired properties include interests in over 240 wells.  Current daily production is around 1,500 Mcfd.  The acquired reserves are comprised primarily of natural gas, totaling 3.9 Bcf of net proven reserves.  The long-lived properties have a proven reserve to production ratio of nearly eight years.  Additionally, the fund acquired 16 compression units.  Foundation will manage these properties together with interests previously acquired throughout 2011 and 2012.  Foundation is monitoring and analyzing acquired proved undeveloped drilling prospects on the acreage for possible future investment.

 

Completed Acquisitions

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Completed Acquisitions
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    Foundation Energy Management, LLC (Foundation Energy) is a manager of energy investments for institutional partners. The company acquires, develops and enhances domestic oil and gas properties and associated midstream assets. Foundation Energy currently operates oil and gas properties in twelve states.

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